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MF Utility Online Platform for Direct Plans is now operational

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In a series of posts on this blog, I have highlighted how you can enhance your mutual funds by investing in direct plans of mutual funds schemes. Under direct plans of mutual fund schemes, you bypass intermediary and invest directly with the fund house. Since there is no intermediary involved, there is no intermediary and that adds to the returns. Everything else remains same between Direct and Regular (through intermediary) plans of MF schemes.

Must Read: Why you should invest in Direct plans of Mutual Fund Schemes?

The drawback with direct plans was that you had approach each AMC in online or offline mode to invest in direct plans. This was a deterrent to a number of investors.  Subsequently, MF Utility came into picture and you could transact in direct plans of multiple MF schemes from a single interface or form. However, the operations were permitted only in Offline mode till December 31, 2015.

From January 1 2016, MF Utility has gone online. You can transact in direct plans of MF schemes sitting in the comfort of your room with only a laptop in hand.

Additional Read: Should you switch from Regular plans to Direct Plans of MF schemes?

Additional Read: Common Doubts about Direct Plans of MF schemes

Additional Read: You can get discounts on MF Investments too

Here is how you can register with MF Utility and start transacting online.

What is MF Utility?

MF Utility (MFU) is an initiative by Association of Mutual Funds in India (AMFI). MF Utility is owned by MF Utilities India Pvt. Ltd, which is equally owned by 25 participating asset management companies (mutual fund houses). All the major mutual fund houses are participants in MF Utility. MF Utility offers a transaction interface to both MF distributors and investors.

With MF Utility, you can transact in MF schemes of participating mutual funds from a single interface or form.

However, till the end of 2015, you could transact in Direct plans of mutual funds in offline mode only. From January 1, 2016, you can transact in online mode too. This should be a cause of great cheer among investors in direct plans.

Before MF Utility, such investors would have to approach each AMC separately (through online or offline mode) and subsequently invest in direct plans.  Of course, they could have invested in offline mode through MFU.

Now that online platform for investment in direct plans has been launched, you can transact online from  a single interface.

MF Utility is free of cost for investors.

How do I transact through MF Utility?

You need to register for CAN by filling in CAN registration form. CAN stands for Common Account Number. CAN is a unique identifier issued by MFU. For more on CAN, go through the following link on MFU website.

Must Read: MF Utility is a win-win for investors

Apart from this, you also need to register for ECS mandate for Systematic Investment Plans SIP transaction. You can do that by filling and submitting PayEezz registration form. You can do purchase transaction using NetBanking too. However, if you want to register for SIPs, you need to do PayEezz registration.

To sum up, here is what you need to do:

  1. KYC (not required if you are already KYC compliant)
  2. CAN registration
  3. PayEezz Registration
  4. Request for online access (more on this later)

Must Read: Demo: How to purchase Mutual Fund Units on MF Utility website?

Here is how you can do it.

If you are KYC Compliant

You need to go to MF Utility website and fill an online form. You can access the online CAN registration form at this link. You start with your e-mail id and follow the steps. The entire form is quite self-explanatory. After filling in the form, you can download pre-filled form and take printout.

For the PayEezz registration from, you can download from MFU website. There is no online form. You will have to specify bank details in this form. There are a few other fields which are self-explanatory.

You need to submit filled-in CAN registration and PayEezz registration forms along with self-attested copies of PAN card, cancelled cheque (which bears your name) and KYC Compliance letter (or so they call it).

For the KYC Compliance letter, you can go to this link in CVL website. Enter your PAN and you can verify your KYC status. You can take printout of the page. This will work as KYC Compliance letter.

You can submit the aforesaid documents at any MF Utility POS. Alternatively, you can send the documents to MFU Office at Thane by courier.

You can also download CAN registration forms and PayEezz registration forms from MF Utility website and fill them using pen.

How do I get online access?

Online access is not default under MF Utility. This means you won’t get online access details after registration of CAN. You will to ask for access.

Once your CAN is generated, you can drop an e-mail to clientservices@mfuindia.com requesting them for online access. You will get access in a couple of days.

You will be sent a link where you can select your login id and password and you are good to go.

PersonalFinancePlan Offerings

Own experience

I was KYC compliant. Hence, there was no need for KYC compliance.

I followed the same procedure as mentioned above (mailed documents to MFU) and got CAN (through SMS and e-mail) within 3 days. I mailed MFU for online access and got access within a few days.  The entire process was quite smooth and hassle-free. I had to step out only to courier the documents.

What do I do if I am not KYC Compliant?

You need to complete KYC. You need to visit MFU POS with your KYC documents (photograph, PAN, address proof, cancelled cheque) and finish KYC process.

You can submit CAN registration and PayEezz forms at the same time.

Experience with MF Utility Portal

This is fairly subjective.

You can see your earlier investments under MF Utility and can even transact (redeem/transact) under those funds. You can transact under the same mutual fund folios. Once the PayEezz registration is done (takes up to 3 weeks), you can also register SIPs. So, on the transaction front, it is quite good.

Not so nice when it comes to presentation of information. The interface is not as sleek as I would have wanted to. For instance, I can only see the number of units I hold in scheme (and not the value of those units). I cannot see the profit and loss for each of my investments. I cannot see the total size of my portfolio. So, there is a lot of scope for improvement.

Hopefully, the interface will improve over a period of time.

In my case, I can manage with the current interface.  You have to decide for yourself.

Would suggest you register with MF Utility and then take a call if you want to continue.

Update (October 5, 2016): How to purchase Mutual fund units using MF Utility portal?

PersonalFinancePlan Take

Direct plans of MF schemes are the best suited to Do-it-yourself investors who can research and pick mutual fund schemes are per their requirements. Such investors can avoid intermediary costs by investing in direct plans of MF schemes.

In a number of MF portfolios of clients I analyze, I see no structure or purpose or planning. MF schemes picked up randomly because a friend or a relative mentioned it. There is no linkage to financial goals. If such investors go direct, they won’t do much better. A few basis points of extra returns (over regular plans) will be more than nullified by poor choice of funds and lack of application and discipline.

Here is what you should do:

  1. If you have time and skill to research MFs and pick schemes suited to meet your goals, go DIRECT. MF Utility is a good option.
  2. You shore up your skills and knowledge about Mutual Fund Investments. You can read popular personal finance blogs and read personal finance sections in business newspapers regularly. Over a period of time, you will develop skill and confidence to research MFs and invest on your own.
  3. Seek services of a SEBI-registered investment adviser, pay a fee and seek investment advice. You can subsequently invest in direct plans of MF schemes.
  4. Get in touch with a mutual fund distributor, seek investment advice (for free) and invest in regular plans of Mutual Fund schemes.

To note: MF Utility is not the only portal that lets you invest in direct plans of MF schemes from multiple mutual fund houses/AMCs. There are many portals that have come up recently such as Invezta, BharosaClub, UnoVest, OroWealth etc. I am sure many more are in the offing. 

I have not tried these portals myself. However, you can give these portals a try. Do note these portals won’t be free of cost.  These portals will have a fee structure. It is justified too. After all, they need to make some money. MF Utility, on the other hand, is free of cost (at least as of now).

What are your plans? Planning to register with MF Utility

Disclaimer: I am a SEBI registered investment adviser and have a conflict of interest in recommending you services of a SEBI registered investment adviser.

161 thoughts on “MF Utility Online Platform for Direct Plans is now operational”

  1. RAMAKRISHNA RAO

    I have recently opted for Dividend Payout for HDFC TOP2OO AND HDFC EQUITY in which I was investing Rs.1000 each since August 2010. Pl. clarify whether this will attract capital gains tax as my agent converted the entire outstanding units as on January16 to dividend payout. Secondly I have given instructions to make these two SIP as ‘Direct’ and when I enquired with HDFC (on toll free no.)I was told that only future SIPs can be made Direct (i.e.,without ARN no.)Whether it is worthwhile to convert the existing units except the ones which are less than a year old to ‘Direct”. I am retired person and continue to contribute at the same rate to these funds, pl. advise whether it is worthwhile to continue.

    1. Didn’t get your first question. You were in dividend payout and are still in dividend payout. Where is the conversion?
      On the other hand, if you switched from growth to direct, it is considered redemption from growth plan and purchase in dividend plan.
      So, tax implications may arise depending upon the time of purchase.
      Yes sir, only future SIPs can be made in direct. SIP is merely a way to invest in mutual funds.
      For your older investments in regular plans, you need to switch from regular to direct.
      Direct plans provide better returns than regular plans. However, those are suited only for do-it-yourself investors. If you need assistance in selecting funds, you may well stick to regular plans. Alternatively, you can avail services of a SEBI registered Investment Adviser to select funds and invest in direct plans subsequently.
      Btw, in equity funds, it is a better idea to stick to growth funds. Tax regime is quite favorable. Whenever you need, sell off some of the units. Dividend distribution is at discretion of the fund manager.

    2. I am posting here just to highlight the pathetic customer service provided by MF Utility to me. I hope you don’t face the similar issues.

      Now think for a moment, what would happen if you did a Lump-sum Purchase transaction (let us say 50,000 INR only) through MF Utility and the MF Units are not allotted to your folio? Whom would you contact then? Customer Service… Right? But, they will not help much and you will have a really really hard time.

      Luckily, it did not happen to me because my E-CAN is still not approved even after 1.5 months. I started following up with Customer Service (toll free number as well as email) after 2 weeks of E-CAN creation and documents uploading but till now nothing has happened.

      In fact, I rarely get a email reply from them and that too is copy-pasted one liner and customer care executive at toll free number is completely clueless about my case.

      Hence, I am completely against MF Utility because they are not at all capable of serving your pain points. If you really want to invest in Direct Plans of Mutual Funds, you better do it through individual AMC portals (I know it will be hard to create accounts on so many AMCs out there, but in my personal experience with 4-5 AMCs, they have far better Customer Service) or myCAMS (free of cost service by CAMS – they provide option of investing in 9 or 10 AMCs).

      Now, if you still have some time and want to read my email communication (mail chain) with MF Utility Customer Service, read on below to check it out yourself:

      From: ClientServices
      To: Sandeep Jain
      Sent: Wednesday, January 11, 2017 3:41 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Dear Sir/Madam,

      Thank you for writing to us.

      We regret the inconvenience caused.

      We continues coordinating with concern team, please bear with us till then.

      For any further clarification/ information, please feel free to call us on ‪1800-266-1415‬(Toll Free) or ‪+91 022 39526363‬ or write to us at clientservices@mfuindia.com.
      Thanks & Regards,
      Team MFU

      MF Utilities India Pvt Ltd
      103-105, Orion Business Park, Ghodbunder Road,
      Kapurbawdi, Thane (West) 400 610
      Board: ‪+91 22 3952 6363‬ /2584 6363
      Web: http://www.mfuindia.com

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Wednesday, January 11, 2017 11:20 AM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi MF Utility Team,

      I am still waiting and waiting.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Friday, January 6, 2017 10:42 AM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi MF Utility Team,

      I am still waiting and waiting for the positive update from your end.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Monday, January 2, 2017 2:30 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi MF Utility Team,

      I am still waiting for the positive update from your end. Also, called on your customer care number twice but they also don’t help me in this matter.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: ClientServices
      To: Sandeep Jain
      Sent: Tuesday, December 27, 2016 1:52 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Dear Sir/Madam,

      Thank you for writing to us.

      Regret to inconvenience caused to delay. We are following up concern team and shall revert to you shortly.

      For any further clarification/ information, please feel free to call us on ‪1800-266-1415‬(Toll Free) or ‪+91 022 39526363‬ or write to us at clientservices@mfuindia.com.
      Thanks & Regards,
      Team MFU

      MF Utilities India Pvt Ltd
      103-105, Orion Business Park, Ghodbunder Road,
      Kapurbawdi, Thane (West) 400 610
      Board: ‪+91 22 3952 6363‬ /2584 6363
      Web: http://www.mfuindia.com

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Friday, December 23, 2016 11:16 AM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi MF Utility Team,

      I am still waiting for the update from your end.

      It is really disappointing that even after so many reminder emails, I have yet to get a positive reply on my CAN approval.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Wednesday, December 21, 2016 5:41 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi MF Utility Team,

      I am still waiting for the update from your end. I am not sure why it should take around 3 weeks time for you to approve my CAN since I am already KYC Compliant and already having continuous investment in quite a few Mutual Fund Folios across AMCs.

      I applied for this CAN since I heard and read on various forums that MF Utility Customer Service is top-notch but my experience with this has somewhat been opposite.

      Please clarify.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: ClientServices
      To: Sandeep Jain
      Sent: Monday, December 19, 2016 3:16 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Dear Sir/Madam,
      Thank you for writing to us.

      Regret to inconvenience caused to delay, Your CAN is under process awaiting for KRA images updated with CAN for signature verification purpose. We are coordinating with concern team and shall revert to you shortly.

      For any further clarification/ information, please feel free to call us on ‪1800-266-1415‬ (Toll Free) or ‪+91 022 39526363‬ or write to us at clientservices@mfuindia.com.
      Thanks & Regards,
      Team MFU

      MF Utilities India Pvt Ltd
      103-105, Orion Business Park, Ghodbunder Road,
      Kapurbawdi, Thane (West) 400 610
      Board: ‪+91 22 3952 6363‬ /2584 6363
      Web: http://www.mfuindia.com

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Monday, December 19, 2016 1:55 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi Dear,

      Could you please update me on the below email.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: Sandeep Jain
      To: “clientservices@mfuindia.com”
      Sent: Thursday, December 15, 2016 4:56 PM
      Subject: Re: Status update on Provisional CAN xxxxxxxxxx

      Hi Dear,

      May I request you to please update me on the below email.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      From: Sandeep Jain
      To: clientservices@mfuindia.com
      Sent: Tuesday, December 13, 2016 11:01 AM
      Subject: Status update on Provisional CAN xxxxxxxxxx

      Hi Dear,

      I am an existing investor in Mutual Funds. My PAN No. is xxxxxxxxxx. I am KYC Compliant. I applied for COMPLETELY ELECTRONIC E-CAN and my Provisional CAN is xxxxxxxxxx. I have also uploaded all the required documents as per the email I received from you (PAN and Bank Account Proofs) around 2 weeks back. Still my CAN is not approved till now.

      I request you to please update me on the status and let me know if I have to do anything from my end.

      Thanks.

      Regards,
      Sandeep Jain
      Mobile: xxxxxxxxxx

      1. Dear Sandeep,
        This is nothing short of harassment. I would have been pissed off too.
        In fact, I faced a similar issue with eCAN. Took 2-3 weeks before allotment (and this too after I wrote to CEO, MFU).
        Defeats the entire purpose.
        On the other hand, many clients got their CAN in a few days.
        Why don’t you tweet to V.Ramesh, CEO, MF Utilities?
        Senior management is typically quite sensitive to such issues.

  2. Hi Deepesh,

    This was really helpful – I couldn’t find this info anywhere else 🙂

    I was filling up the MF utilities form and noticed that they are asking the DP details. I don’t remember entering such details for purchasing direct plans at fund house websites. Is it necessary to fill this information? Does it mean that my MF holdings will be in demat account? Is there any advantage/disadvantage for the same?

    Thanks in advance 🙂

    1. Deepesh Raghaw

      Thanks Vishnu.
      You can skip the DP details. No need to fill it. You fill it only if you want your units in demat account.
      I do not see any advantage of holding MF units in demat account.
      One can see some value addition for nomination purposes. Personally, I wouldn’t worry too much about it.

  3. Hi Deepesh,

    I got online access to mfuonline. Whey i try to select any fund with fund type “DIRECT”, it is showing there are no funds. As of now i can see REGULAR funds only. How to proceed investing in “DIRECT” funds under this platform?

    1. Hi Kasi,
      On purchase page (where there is an option to enter ARN), there is a small checkbox for Direct towards the bottom. Check the option.
      Subsequently, you will get direct option too.
      Hope this should resolve your issue.

        1. No. ARN pertains to a distributor.
          No such thing. Select Direct. By selecting Direct, you bypass the distributor.
          See, there are two ways to invest.
          1. Through a distributor: You will need to enter ARN details. But you don’t want to invest in regular plan.
          2. Direct: Check Direct option on the page. You will be asked to enter RIA details. You can skip that part too and click on Proceed. You can invest in direct plans then.

    1. Thanks Muthu. Glad you liked the post.
      Will appreciate if you could share the posts you like with friends and family.

  4. Hi Deepesh,

    I wanted to know can I transact(redeem) in my existing offline units invested through HDFC bank too through MF utility platform?

    1. Hi Prachi,
      If the holding pattern is same and the investment is with AMC that are participating with MFU, you will be see those investments (made through HDFC Bank) under MFU login.
      You will also be able to transact in those folios/units.
      You can see the list of participating AMCs at https://www.mfuindia.com/ParticipatingAMCs

      1. Hi Deepesh,

        Thanks for your response. Need one clarification: When you say holding pattern is same , what do you mean?
        Through my HDFC netbanking account wherein mutual fund tab is activated, I had purchased certain MF units which were in online mode and they appear to be mapped in my CAN at MF utility. Now since I want to close that account, I will have to convert those MF units into offline/physical mode.

        I want to know, whether once I convert the units, will they still remain mapped to my CAN and whether I will be able to redeem offline units too through MF utility platform in future?

        1. You can open individual accounts or joint accounts. In joint account, you can be first holder and your spouse can be second holder.
          Alternatively, your spouse can be primary holder and you can be second holder. You need separate CANS for every holding pattern.
          Only those existing investments are mapped which have the same holding pattern as your CAN account.
          Since your bank account is individual, your MF investments would have been made in individual mode (you as the sole holder).
          I assume you opened your CAN in individual mode too. Hence, you existing investments are mapped.

          I assume you are talking about closing HDFC account. You can close it. There will be no impact on your MF holdings. You don’t hold your MF units in your bank account.
          You don’t have to do anything with your MF units. You can access them through your MFU login. You can also access those units through individual AMC websites.
          I assume you do not keep units in demat account.

          1. Hi,

            Thanks for the info. Yes I do not keep them in DMAT form and both my holding & MF platform are in individual mode.
            The only problem is that in order to close HDFC account , the bank is insisting on converting the units into offline mode, since I had done the investment through ISA account which I am closing as now I have MF utility. However I believe as per the clarification given by you, even after converting them into offline mode, I would be able to redeem them later on through MF utility. Correct my understanding if wrong.

          2. There is no offline way (technically) of holding MF units. There is no such thing as MF certificate (unlike share certificate).
            So, you can hold in demat account or in Common Account Statement format (non-demat). Both are digital.
            Suggest you go through following post.
            http://www.personalfinanceplan.in/mutual-funds/you-dont-need-a-demat-account-for-your-mutual-funds-investments/
            If you are not in demat form, you are already in non-demat form. There is nothing you need to do.
            Btw, why do you want to close HDFC ISA account? Are there any charges for it? Btw, ISA means investment services account, right?

        1. Deepesh Raghaw

          Hi Nitisha,
          An account can be in sole ownership or in a joint ownership.
          For A can be open an individual account. B can do it too.
          A and B can also open a joint account (AB or BA).
          Hope this clarifies.

  5. Hi Deepesh,
    Your blog was very informative. Thank you very much for publishing it. I opened a MFU account by following your instructions.

    I was going through the list of funds available under the Direct option on MFU online portal & am finding several of the top ranked ones missing e.g. “SBI Bluechip Fund – Direct Plan”. Seems like not all the funds are available through MFU. Could you please advise on how I can invest online in this fund?

    Thanks,
    Harish

    1. Thanks Harish. Please do share the post on social media channels and with your friends and family.
      I can see SBI BlueChip Fund- Direct in the MFU portal.
      The scheme name has Blue Chip and Not BlueChip. Perhaps, that caused the problem in search.
      SBI is onboard MFU. Hence, you will be able to invest in all the schemes from SBI MF through MF Utility.
      Please recheck.
      Btw, are you facing issues in finding just Direct plan or any scheme from SBI in general?

  6. Hi Deepesh,

    Yes for ISA in HDFC they charge Rs. 150 per quarter. Thats why I am planning close the account as now I already have the facility in MF utility without any charges.

    HDFC people have repeatedly told me that to close ISA, I should not be having any hodings in it. Now for that there are two options- either to redeem the units or to convert them offline.

    1. Hi Prachi,
      I don’t have HDFC Bank account. Hence, can’t comment on the agreement between you and HDFC Bank account.
      Does ISA come with a demat account?
      Otherwise, I do not see the need.
      Even if it does and your MF units are not in demat format, I don’t understand the problem.
      You cannot hold MF units in physical format. You always hold them in digital mode. Demat or non-demat.
      You say you hold in non-demat format. What will you convert those units to?
      Sometimes, bank officials are not aware and can misguide you too.
      Suggest you drop an e-mail to HDFC Bank customer care and take this in writing.
      I concede legal agreements can be documented in any way but somehow things don’t add up.
      If what they are saying is the case, you can redeem units once exit load period is over. Consider capital gains tax implications too.

  7. Hi Deepesh,

    Thanks for the wonderful article. I’m starting to invest in mutual funds and your blogs are very helpful for me. Simple and clear.

    I’ve a very basic query. While filling the PayEezz form, there’s an field called “Banker’s attestation”, should I visit the bank and get the sign & stamp from the bank?

    1. Hi Gopinath,
      You are welcome. Please do share the blog posts with friends and family too.
      You don’t have to go to a bank. You fill in the form and send to MFU.
      MFU will send the form to the bank for attestation.

  8. Hi Deepesh,
    Thanks for putting up a informative article.

    I’m trying to open the MF Utility account. I reside in the UK and hold OCI. Can I open MF Utility account?

  9. Before opening MFU account I have some MF with Jointly with my wife ( Anyone or survivor mode) and single holding too. There is four combination
    1. Anyone or survivor and first holding with me
    2. Anyone or survivor and first holding with wife
    3. Single holding by me
    4. Single holding by my wife

    Do I need to open/Submit 4 CAN ? It can be mapped with single login ID ?

    Also suggest me for the mode of holding . Requirement : I wanted to continue only Option 1 ( from above) . Do I need to sell all the folio from other 3 mode or it can be converted as joint( some way) ? If it is possible to covert from single to AS mode then How ?

    1. 1. Yes, you will have to open 4.
      2. Yes, all four of them will be mapped to single login id. The login ids are issued per PAN (and not per CAN).
      3. Yes, you will have to sell and repurchase.
      4. Don’t think there is a way to convert to joint. But suggest you can check with AMC. MFU has no say in the matter.

      1. Thanks for the quick response.
        I got the all four CAN for the below 4 option
        1. Anyone or survivor and first holding with me
        2. Anyone or survivor and first holding with wife
        3. Single holding by me
        4. Single holding by my wife

        All 3 ( Option 1 ,3 and 4) are mapped with single userID automatically. But the option 2 is not mapped with same. Why?

        Do I need to send special request ? or is it not possible ?

        1. 1,2 and 3 will show under your login.
          1,2 and 4 will show under your wife’s login.
          So, 2 should show under both.
          Log request with MFU. It will be rectified soon.

  10. Hi Deepesh
    Thanks for the great article – just the info I was looking for.

    My question is a little out of context – I am looking to invest in MFs using MFU OR Invezta. Both provide Direct plans
    Invezta charges a fee about 1000/year which is ok with me. It has better features and interface. Which one of these would more reliable and safe for a long term investor? Another query I have is what will happen if I create accounts on multiple online platforms – same PAN and KYC information?

    1. Thanks Sumit. Glad you liked the post.
      Please do share with friends and family.
      You can go with either. I have used only MFU till now but have heard good feedback about Invezta.
      Both are equally safe. There is no risk of your investments vanishing. Even if these portals close down, you can still access your investments.
      Both are new portals. Hence, you may face a few technical issues but those can be sorted out.
      You can open account with both the portals (or as many portals as you want). No issues on that front.

  11. Hi Deepesh,

    Good informative article!

    For the same equity related MF scheme, if I change the payment pattern from lumpsum to SIP or vice versa within one year time period, whether capital gain tax or exit load is applicable?

    1. Hi Kalpesh,
      Thanks!!!
      Please do share the post with friends and family.
      Exit load and capital gains implications arise only when you redeem units. Does not matter if you change investment mode from lump sum to SIP or vice versa.
      As long as you are not selling those units, there is no capital gains or exit load implication.

  12. I Have done one initial( lump sum amount with existing folio) transaction with MFU .

    I can see the order status is RTA Accepted . But the NAV is not updated from last to days.

    What may be the reason ? do I need contact MFU or ICICI ( MF company) ?

  13. Dear Deepesh, Good day!!

    Your blog and comments are very helpful. Thank you.

    I just got my CAN and awaiting login credentials. I have few queries,

    a. I am an NRI, I applied for NRE MFU account. I hope the CAN allotted to me is linked with my NRE account. So all my MF purchases are through NRE account? Redemption also will be happened in my NRE account?

    b. When I applied CAN I am not aware of PayEezz, now I am in overseas so is very hard me to get bank attestation also I don’t have any cancelled cheque with me. When I applied CAN I already provided cancelled cheque. So is it must I have to get bank attestation and cancelled cheque together with form to get PayEezz approval?

    b. Once I get my login credentials can I start to purchase direct MF by lump sum through NET banking?

    c. Net banking or NEFT which is better option?

    d. for OTP can I get SMS in my overseas mobile number?

    Please advise.

    Thank you

    Warm regards,
    Jai

    1. Dear Jai,
      You are welcome. Please do share the post with friends and family.
      1. Yes, that will be the default account. You can specify where you want the funds credited at the time of redemption.
      2. You don’t have to get PayEezz form attested. MFU will manage. You can simply fill in the form and submit. You can even courier the payeezz form to MFU office in Thane.
      3. Yes
      4. Pick any. However, I prefer PayEezz. This is the one with least hassles.
      5. MFU does not send any OTP to overseas number. You will get on e-mail. So, you should do just fine.

      I have created a video tutorial on how to transact using MF Utility. You can go through the video here.
      https://youtu.be/wvPcapyQXWw
      Hope you find the video useful.

      1. Dear Deepesh, Good day!!
        Thank you so much for your valuable feedback.

        I got my login details yesterday, manage to create login details and successfully login.

        1. I bought a fund yesterday as a trail as of today is not credited to my CAN account, normally how long will take to credit/ display in CAN dashboard?

        2. After I login found that CAN status pending and KRA status also pending, Why?

        3. How to add my wife as a nominee in MFU?

        4. The youtube tutorial is not working, please send us correct link.

        Looking forward for your valuable reply.

        Thank you

        1. Dear Jai,
          You are welcome!!!
          1. Wait for a couple of days.
          2. Check with MFU. Shouldn’t happen. What does your KYC status show on CVL website?
          3. You don’t need a nominee with MFU. You need nominee with the folio numbers with AMC. When you fill nominee info in CAN form, MFU is expected to pass the info to AMCs. I am not sure There is no specific form for updation of nominee with MFU. Drop an email to MFU customer care to find out. In any case, do not rely on MFU to pass on nomination information to AMCs. Check in the account statement if the nomination info has been passed.
          4. Can you please recheck? I am not facing any issues.

          1. Dear Deepesh, Good day!!
            Thank you so much for your soonest reply.

            For item 2. My KYC status in https://www.cvlkra.com showing KYC REGISTERED – New KYC under CAMS.

            For Item 3. How I can add nominee under folio numbers with AMC?

            Can you also please advise Top Direct Plan available under MFU portal?

            Thank you

            Best regards,
            Jai

          2. Jai,
            Item 2. It should automatically update. If it does not happen in a few days, contact MFU.
            Item 3. There are separate forms for nomination. You can download from AMC website.
            I am governed by SEBI investment adviser regulation, 2013. I cannot provide any investment advice without proper risk profiling.
            Suggest you visit the offerings section on the website.

          3. Dear Deepesh, Good day!!
            Thank you so much for your valuable feedback.

            The video link https://youtu.be/wvPcapyQXWw is not available following is the error message,
            “This video has been removed by the user.”

            Can you please check and revert.

            Thanks & best regards,
            Jai

  14. Hi

    Thanks for your earlier support . I got CAN and online access too .

    Now, I can’t see any % return information . Also the old transaction I cant see . Whereas in CAMS I can see the old transaction .

    Is there another way to do it ?
    If yes . How ?

    Thanks
    Sudam Das

    1. Dear Sudam,
      You can’t see returns in MFU. You can’t see old transactions either.
      Can only see transactions done through MF Utility.

        1. If you are comfortable using excel, you can do that.
          Or else, you can upload your portfolio in ValueResearch and see the returns there.

  15. Hi Deepesh , I currently have 4 else funds .All have different folio.If I do complete process here will I be getting common account number,so do u mean to say that if I want to add a 5th fund I need to do all the process again or I can purchase in future thru online mode easily.I will be eagerly waiting for your reply.my email I’d is rohitgupta.citm@gmail.com

    1. No. You need to go through this process of CAN registration just once.
      Once done, you can invest in as many funds as you want.

  16. Nice article Deepesh.. thanks for making investors aware about better ways to invest in mf..
    i have gone through mfu online site and also done transactions. i find the report very basic. how do i keep track about no. of days stayed invested in;my gains; report for capital gain tax etc.. if not here; is there a way to have such paid site which can pull data on its own ?
    money control site is good but not for frequent transactions like liquid and usd funds as it is very difficult to keep updating data manually..

    i currently use services of distributor and his portol.. i wish to switch to direct mode but am resisting due to lack of comparative report

    thnaks
    hiten

    1. Hiten, thanks for the kind words.
      Request you to share the post with friends and family.
      Agree with you.
      Reporting in MFU is quite mediocre but I am ok with it. I do not keep a very active eye on my MF portfolio.
      There are many reports you can download on CAMS or Karvy website that contain such pieces of info for you.
      I am not sure if there is any auto-update software or website that will fetc everything automatically.
      Btw, there are many other websites such as Invezta, OroWealth etc that let you invest in direct plans of MF schemes. You can try those sites. Should offer much better reporting.
      In my opinion, reporting aspect is over-hyped. You do not trade with your MF portfolio. For liquid or debt funds, a bit of work in the background will get you all the information you need. But that’s just my opinion.

  17. Sheetanshu Gupta

    Hi Deepesh,
    Very nice and informative article for someone who is very new to investing in mutual funds like me.
    I have started investing in regular plans through a wealth manager and the wealth manager recently opened my MFU account.
    Now my question to you is, when i am trying to buy new funds through MFU Portal, the wealth manager’s ARN code is hard coded in the portal and hence I am not able to

  18. Sheetanshu Gupta

    Hi Deepesh,
    Very nice and informative article for someone who is very new to investing in mutual funds like me.
    I have started investing in regular plans through a wealth manager and the wealth manager recently opened my MFU account.
    Now my question to you is, when i am trying to buy new funds through MFU Portal, the wealth manager’s ARN code is hard coded in the portal and hence I am not able to buy direct plans. Can you please let me knw how to activate direct buying on MFU portal using the same CAN number

    1. Dear Sheetanshu,
      Thanks Sheetanshu.
      Will appreciate if you could share the posts on your social media pages.
      If you have opened through a distributor, ARN details will be hard coded.
      However, as I understand, you can choose Direct (by clicking the checkbox below ARN details).
      You can check the video in the post.
      Subsequently, you should be able to purchase direct plans.
      As long as you are investing in direct plans, no commission will be paid to the distributor.

  19. Hi deepesh

    My one purchase order got rejected.no idea what is reason of rejection as it’s not mention anywhere.
    Any idea how much time it take to get refund for rejected order.

      1. Thanks Dipesh.
        Refund process took 5 business day.
        My order got rejected because my order amount was less than minimum purchase amount.this validation should happened at time of order placement.

  20. Dear Deepesh, Good day!!
    Thank you so much for your valuable feedback.

    The video link https://youtu.be/wvPcapyQXWw is not available following is the error message,
    “This video has been removed by the user.”

    Can you please check and revert.

    Thanks & best regards,
    Jai

  21. Its been 25 days I got sms that they received PayEezz form. Still PayEezz Reference Number (PRN) not received .

    And I confirm with CC that the forms are correct .

    How many days it takes normally.

  22. Hi Deepesh

    I have around 5 lakhs worth MF with FundsIndia. Now i am planning to move to MF utility. per the discussion with MF utility office in bangalore , i have to submit the following documents. 1. KYC – I have already
    2. CAN form
    3. PAN copy
    4. Cancelled Cheque.
    5. Address Proof.

    Is the above docs enough or do i need to submit any other documents.

    I have SBI & HDFC internet banking. Is it possible to transact online with any of these two banks.
    Is it possible to switch the units I already have with Funds India ?

    thanks in advance for your response.

    1. Hi Sarath,
      You need to send filled in CANEezz and PayEezz forms, along with copy of PAN and cancelled cheque.
      No need to send address proof.
      You can access units in purchased through FundsIndia under MFU login (provided the scheme is from an AMC which is on-board MFU).

      1. Dear Deepesh, Good day!!

        CANEezz form is similar to CRF-Individual form? Both is for CAN registration? I didn’t submit any CANEezz form, is it OK?

        Please advise.

        Thanks & best regards,
        Jai

          1. Thank you Deepesh.

            1. Is it required, CAN data to be updated in folios? How can I check?

            2. I received my first MF statement but I didn’t see my CAN number? Is it must my CAN number is there?

            Thank you

            Jai

          2. 1. Can you see your MF units in MFU portal?
            2. CAN is not a mandatory item in account statement but I have CAN mentioned in my account statements.

      2. Thanks for your reply. But you haven’t commented about the bank account which i have asked asked. Shall I presume that it is fine.?

  23. I have some bad performing MF (SIP –> Stopped recently) . I wanted to sell them every month to avoid the exit load amount ( ex: sell only units those just completed 1 year yesterday . accordingly for net 12 month) .

    How to do it better way (I am doing in manually now) ? In MFU is possible ? if yes then how ?

  24. Dear Deepesh,

    Yes I can see my MF units in MFU portal with folio, NAV, units purchased and amount.

    Thanks & best regards,
    Jai

  25. Dear Mr Raghaw,
    Please let me know which one is better Invezta or Bharosaclub
    Invezta is a standalone platform with 17 AMCs so not tied up with MFU.
    How standalone platforms are different than MFU collaborated ones.

  26. Hi Deepesh,
    please clarify me on following issues

    1.In payeezz form they have payment limit to be specified.So how much (amount )to select the limit ?
    2.which is better option for on line payment ? netbanking or neft or payeezz ?
    3.can we start SIPby making payment via neft/net banking ? or payeezz is must to start SIP ?
    4.MF UTILITY HAS ACCOUNT IN ICICI BANK.So can I add it as a payee in my icici bank payee list n process the transanctions for SIP through it as i am doing for axis MF AMC ?
    5.I have some reservation against misuse of authorising through bank mandate facility or PRN . So is it safe to authorise such mandate ?

    1. Hi Nitin,
      1. It is a personal choice. Consider what is likely to be your biggest single purchase transaction in the near future. Specify that as the limit. You can always add a new mandate with the same bank account later.
      2. I prefer PayEezz. It is a personal choice.
      3. For SIP, PayEezz is mandatory.
      4. Yes, you will have to add MFU ICICI escrow account as payee if you want to purchase through NEFT/RTGS.
      5. I understand it is not easy to assuage such concerns. However, it is not that easy. I am sure there will be checks in place. Even if somebody uses your PRN to make a purchase, it will leave a trail and the person can be easily caught. I have authorized such mandate.

  27. Hi Deepesh,
    while selecting MF, there are growth n dividend options.So which option is better according to you.
    Also what is STP N SWP …

  28. Dear Deepesh,

    Under beneficiary A/C No seen MFIB follow CAN number & MFKK follow CAN number for NEFT & RTGS type of payment, What is it?

    Thank you
    Jai

  29. Dear Deepesh,

    Each time I purchase MF is it good to have new folio? Or each AMC I maintain one folio number, Which is better? Please advise.

    Thank you
    Jai

  30. MFU is a great idea First job I did is to convert my existing Regular plan in to Direct plan. Obviously we are saving atleast 1% in doing so,.

  31. @ Harinath : Many thanks for the idea. I was looking for a single platform for online investments in Direct plans.I was reluctant to open multiple accounts since I already have an account with FSM and FI as well…. just wondering if I just do a switch of my existing Regular plans, as these private players offer only regular plans, i neatly save Rs 20000 per year on a portfolio of Rs 20 Lakhs. This saving will only increase over the year compounded at 13% to 15% as direct plans has lower expense ratio which is atleast less by 1% compared to regular plans. Wonder how many investors know this fact or get proper advice.

    @ Raghaw : Many thanks for your wonderful website, learnt a lot..keep sharing your valuable inputs

    1. Thanks Aamir!!!
      Btw, it is not guaranteed that the difference in expense ratio will be greater than 1%. Will vary across type of funds and schemes.

  32. What happens if we wish to change the portfolio of funds as per the market? What will happen to the previously invested funds?

  33. Dear Deepesh,Good day!!

    In MFU under bank details, the first digit of my account number is missing. Also AMC folio statement the first digit missing. But I can transfer money to MFU. This need to fix? In future when I redeem MF the money can be credit to my current account number?

    Thank you
    Jai

  34. Nice article. I want to be mutual fund advisor and ARN allotment application is in-process. Now I am searching platforms from which I can manage my investor easily and my customers can investment online. I found three option : (1) mutual fund utility (2) NSE (3)BSE (4) fundsindia advisor
    I am confused which options i should choose. There are some other option also. Can you please suggest me a good platform for advisor.

    1. Dear Amit,
      I am not a distributor. Hence, I am not in a position to comment.
      Don’t think MFU has a very good interface for distributors.
      Am not sure about others.
      With FundsIndia advisor, ARN will of FundsIndia. You will have to share income with FundsIndia. However, FundsIndia may be able to negotiate higher commission with AMC than you as an individual can.

  35. I got link for upload of files for kyc. so uploaded the files. but no button is available to submit ? should i close after uploading ? pl guide and from here how much time it takes to complete the process.

    1. Dear Suresh,
      Facility for Online creation of CAN was launched recently.
      I am not very verse with it.
      In case of any problems, suggest you contact MFU customer care.

  36. Hi Deepesh,

    I am new to mutual fund investing. I want to know, how to identify the direct plan of any MF in MFU website. Does it necessarily need to have “Direct” mentioned in Scheme Name? If not then what the the way around.

    Regards,
    Vaibhav

  37. I got answer to my query after further researching on the MFU website. However i have another query: I placed purchase order for a MF and it is in Order Status “Approved” state. I want to cancel the order but can not find how anywhere on the portal. Further if i do not make payment for the order, is there any kind of penalty that can be imposed on me.

    1. You can’t cancel order on MFU.
      If you had selected NEFT or RTGS as mode of payment (and not made the payment), you will be allotted units initially which will be clawed back after a few days/weeks.
      As I understand, there is no penalty.

  38. Hi Deepesh,

    I’ve gone through your article and I found it very useful. I’ll be starting investment in MF from next FY. So, according to the current budget what is your recommendation in investing on MFs. Also, I was thinking of investing in one time rather than SIP so that I can withdraw money anytime after 1 year. I can see scripbox and FundsIndia suggests only 3-4 top performing MFs. I will be using their suggestion to invest directly to AMC in direct plan. Also, can you recommend the best online platform to invest directly to MF where I can have easy management of multiple MFs. Also, please let me know your view about scripbox and FundsIndia.

    1. Thanks Subhajit!!!
      Scripbox and FundsIndia are very good portals. You can invest through these platforms.
      Since you dropped a comment on a post about direct plans, I consider it apt to highlight that you will not be able to invest in direct plans through FundsIndia and Scripbox.

      1. Hi Deepesh,

        Let me re-frame my question to you.
        1. According to the current budget what is your recommendation in investing on MFs.
        2. Recommend the best online platform to invest to MF direct plan where I can have easy management of multiple MFs. I will be using scriptbox and FundsIndia suggestion from their website as I’ve account with them, but will not invest through them rather I will invest to MF-direct plan though other online portal for AMCs.

        1. Hi Subhajit,
          To be frank, budget is a media event. The fortunes of a nation do not really change based on budget announcements. So, take exposure to equity if you are investing for long term.
          I use MF Utility. There are many others such as Invezta, Unovest etc. You can try those out too.

          1. I was thinking of investing in one time rather than SIP so that I can withdraw money anytime after 1 year when I can see better return. What’s your suggestion on that, which one is better?

            What’s your view about moneyfront?

          2. Subhajit,
            Firstly, this is easier said than done. Secondly, you shouldn’t be investing in equity funds if you are investing for only 1 year.
            I have not tried MoneyFront. Hence, I cannot comment. You can try out and check for yourself. There are at least 40-50 portals that allow investments in direct plans.
            In my opinion, day is not far when even Scripbox and FundsIndia will allow direct plans too. Ofcourse, they will have to tweak their business model for this.

          3. Thanks Deepesh. I appreciate your suggestion. So, what would you suggest me, one-time or SIP?

  39. Thanks for earlier help.

    I have done reliance liquid fand investment through MFU(Payezz) on 13 Feb.

    They have assign nav dated on 17 Feb. I have not seen that much late for other mf .

    Please suggest me if this is not a best way I done it ?

    1. For liquid fund, money has to reach AMC before the units are allotted.
      With PayEezz, it takes time. You can try net banking or NFFT/RTGS in case of liquid funds.

      1. hi deepesh,

        first of all i would like to thank you for spreading awareness about money and investments,all articles are wonderful.

        regarding MF utility this platform is not sebi registered.so how safe is doing investment through this platform?

        Thanks!

  40. Hi Deepesh,

    I made an investment via mf utility. I got an email with a folio number from camsonline. So does MF utility use cams to provide services to users ? If yes, shouldnt we be directly using cams ?

    1. Deepesh Raghaw

      CAMS is a RTA. So, all transactions for CAMS serviced funds will go through CAMS.
      You can invest directly through CAMSOnline too.

  41. Hello Raghaw Ji,
    First of all I would like to thank you for all the information you have provide. Secondly, I agree with you that Mfutility does not provide satisfactory help/ assistance. I have visited there PoS thrice and called to there Customer Service innumerable times but to no help.Therefore, i request you to please help in resolving following queries:
    1. My address is showing of 6 yrs ago of a place when i did some trading for a very short period (No MF or SIP ever then),However, while opening MF Ac I have submitted all latest documents. what to do?

    2. I have recently opened 4 SIPs through Karvy Stock Holdings. Now can I switch these to Direct plans without any change (when they will be mapped).

    3. Suppose once I invest some lumpsum ampunt in any AMC. Some months later I start SIP with same AMC . So can I use same folio number?

    4. Finally, after logging in MFU it is showing KRC pending…I have submitted all docs and my CAN is not provisional i.e. it is permanent.

    Please guide sir, Thank You for help.

    1. Deepesh Raghaw

      Thanks Mr. Jaiswal.
      1. In that case, visit CAMS/Karvyo office and do KYC updation.
      2. You want change SIP from regular to direct. You will have to cancel SIP in regular plan and start in direct plan.
      3. Yes
      4. Perhaps they are facing issues in downloading your KYC details. You can drop e-mail to clientservices[at]mfuindia[dot]com.

  42. Hi. Nice article and it helped open my Mf Utility account this month. It was very easy as I did e-Kyc. I have got my CAN approved and online access. Now I have two queries, hope you will be able to help me with these:
    1) I have been investing directly with 2 AMCs in SIP mode in Direct option since 2016. I can see all the transaction details in Mf Utility except the last SIP which got debited on 22nd March 2017 which I can see in AMC site but not in MF Utility. Do I need to be worried? or Will it get updated automatically after some time? It’s been 9-10 days.
    2) Before opening MF Utility account. I updated my KYC through Karvy. My Axis AMC updated my KYC but Birla is yet to update it. Not sure if Birla will update it as CAMS is there RTA. But I thought if I open a MF Utility CAN account then Birla AMC should update my KYC as per CAN details, but the Birla AMC statements are still showing my old KYC. What should I do now? Submit my KYC in CAMS? or Ask Birla to update as per my CAN records?
    Thanks for your suggestions and helping with my queries.

    1. Deepesh Raghaw

      Dear Shanti,
      1. As I understand, you opened SIPs from other portals. Such transactions will not be visible in MFU.
      2. You don’t have to do KYC again. Raise this issue with MFU. They will look into it.

  43. paruljaiswal313@gmail.com

    Dear Sir,
    Thank you for all the information provided.
    I have two queries. I have registered on MFU and I got online credentials but in my KYC old address is showing.
    I have done online transaction for a particular fund for 5000 (just to check).When will unit be credited in my account? and can I further buy same MF with same AMC and with same folio number?
    and what is CTF used for?

    1. Deepesh Raghaw

      Dear Parul,
      For KYC related issues, contact MFU. Depends on the forms you filled.
      If it is an equity fund, you will see in your MFU account tomorrow or day after.
      Yes, you can buy in the same folio.

  44. HI DEEPESH
    YOU MADE video on youtube one is for how to purchase mutual fund and second is how to set up sip, so whats the iffernce between the two,
    thanks
    regars
    RACHANA

    1. Deepesh Raghaw

      Hi Rachana,
      Purchase is a one-time transaction. If you want to make multiple purchases, you need to execute multiple transactions.
      SIP is a systematic transaction. If you set up a SIP, specified amount gets automatically debited from your bank account every month (or week or quarter) and gets invested in scheme of your choice.
      Hope this helps.

  45. Hello Sir,
    First of all thank you so much for all your help.
    I have few queries and I will be obliged if you may help me.
    I have open my MFU account and purchased few SIPs. I am KYC compliant but my address was older.
    1. Now, if I again submit my KYC with new address proof, will all AMC change my address automatically or I will have to pursue them to do so.
    2. On a lighter note since everything is on-line, so will address issue matter at any time?

    1. Deepesh Raghaw

      You are welcome, Shubham,
      This is a grey area for me.
      Suggest you update KYC. Then,you can follow up with AMCs.
      E-mail change works through MFU. Can’t say about address.
      I get your points but it is always better to have correct address in records.

  46. Hello Raghav ji,
    Very nice and informative blog…….thanks for that.
    I have opened my MFY AC and registered Payezz. I have one small query. What does 6 symbols at Dashboard represents infront of each Mutual Fund:
    1.Purchase, Redeem Switch.
    2. SIP SWP STP
    I am asking this silly question because I have made purchase in same folio by different process (whole 3-4 step full process).
    So what does this short cut represents.I will be grateful if you can explain in detail.

    1. Deepesh Raghaw

      Hi Tanvi,
      You can do the same thing through a different routes. Nothing wrong with what you have done.
      As I understand, you would have gone to CAN transaction and took it from there.
      These 6 buttons let you transact in that very fund scheme. Just makes it easier.
      So, when you see these buttons in front of XYZ fund and you want to purchase worth Rs 10K in the same fund scheme, you can simply press purchase button. It will take you to purchase page. That’s it.
      Hope I got your question right.

  47. Hi deepesh sir
    For Payeeze registration, bank charge one time fees for Registration or else for every sip they charge ???

    1. Deepesh Raghaw

      Hi Digesh,
      There could be one-time nominal NACH registration charges.
      There is no charge for every SIP.

  48. Dear Deepesh,
    I am a new investor and have started with mutual funds. I opened DEMAT account with Ventura Securities Ltd and investing through SIP since last 6 months. After reading your article, I realized it’s much better to invest in Direct plan through MF Utility rather than Regular plan through Ventura. However I request you to guide me on following issues:-
    1. How the existing Regular plan SIP will get converted to Direct plan, if I take CAN through MF Utility.
    2. Ventura has allotted me folio number. So is the existing MF unit are held with Ventura or in DEMAT account? What will happen when I shift to MF Utility? How the existing Units will get transferred from Ventura to MF utility or will it remain with DEMAT Account?

    Thanks and Regards
    Nitesh

    1. Deat Nitesh,
      MFU is just an investment platform that you can use to invest in direct plans.
      There are many such portals.
      The key is to invest in Direct plans.
      1. You have to stop SIP in regular plan and start a new one in direct plan.
      2. Just call Ventura and ask. In my opinion, since you have a folio number, these are in Statement of Account format. You can also try downloading your MF statement from CAMS/Karvy sites. All your investments should show up. If the units are in demat mode, you won’t be able to view in MFU.

  49. Sir,
    As I have registered to CAN through POS, I am not getting option for purchasing Direct Plan. Now how can I get it ?

    Regards.

    Amarnath De.

    1. By POS, you mean distributor or CAMS/Karvy office?
      If your account(and online login) has been opened through/by a distributor, you wouldn’t get an option to invest in direct plans.
      By the way, you need to select (check box) Direct while making a purchase to be able to purchase direct plan (on ARN/Transaction entity page).
      You need to drop an e-mail to clientservices@mfuindia.com.
      They will send you a link to create username and password. Follow the steps.
      So, you will have two logins ids and password. One for distributor and the other one for direct plans.

  50. Hi Deepesh

    I have added a lumpsum purchase through mf utility. Its been 2.5 months but the folio detail is not being displayed on dashboard. However the folio has been created and monthly account statment from AMC is being received on my mail id.
    Now I am not sure how to purcharse more unit or redeem available unit from that particular folio as it is not visible on mfu dashboard.
    One thing I have noticed that my newly added fund Amc is serviced by Karvy and while all other fund AMC of my follio are registered on cams. Is it could be the reason for this mess? I have also raised a query in muf complain section but I haven’t got any respose.
    Please suggest what should be done in this case.

    Regards
    Rinku

    1. Deepesh Raghaw

      Hi Rinku,
      This is a bit strange.
      If you made the purchase on MFU, that means the AMC is already with MFU.
      Was the AMC IDBI?
      CAMS and Karvy shouldn’t cause the difference.
      Suggest you call their customer care and seek clarification.

      1. Thanks for quick response. The AMC is Motilal oswal and Yes it is available on MFU. I have tried to reach out many times but nobody is picking the phone. Just going to drop a mail.

  51. Hi,

    Please need one info ,can MF utility portal is also used for redeeming the MF purchased or do we need to redeem it directly via AMC.

    Thanks
    Akram

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